NOTES.

Ashburton Guardian, Volume VII, Issue 1963, 6 October 1888, Page 3

NOTES.

Thb roport of the Committee of Investigation- into the affairs of the Bank of New Zealand is a plain, outspokm document which tells the shareholders the exact position of affairs m bold, straightforward language. " Eminently unsatisfactory "—to quote its own terms — as the fact of the large loss which has to be met undoubtedly is, the courage with which the position has been faced, will assuredly bring its own reward. For now that the whole world knows the worst, it, at the same time, I knows that the Bank is able to bear the ; loss of the large sum of £800,000 without its soundness or security being affected, and henceforth with its assets and securities written down at their true value, and with its position strengthened by an increase of capital, it will need only prudent management to secure for it a continued career of progress and prosperity. That its soundness has been abundantly demonstrated is clearly shown by the readiness of financial magnates at Borne to take up the new issue of shares, and the news which we publish to-day of a fall m New Zealand securities m consequence of the report lof the Bank's affairs is no evidence whatever to the contrary, but is simply, we believe, the result of the operations of parties whose interest it is to " bear " the market with a view to making a profit upon the rise which is certain to follow.

Tbe final outcome of the bold action of the Bank will, we believe, be the helping forward of that return of brighter and better times of which indications are happily observable m all directions. The prices of our staple productions are steadily improving, and new markets are opening up, and the necessary result must be an increase m the value of real estate. Evidence of this was plainly given m the land sale held at Temuka a day or two ago, when prices ranging from £10 up to £21 15s I per acre were obtained. The prices were ' indeed too high, for notwithstanding that the land m question is first-class and has the advantage of proximity to the railway, it will require high prices for produce to make farming pay wben the cost of the land ranges up to these figures. As our Timaru contemporary remarks, the values at which the Temuka farms sold "show a return to that speculative spirit which brought about the downfall of so many well to do persons," and, we may add, also show that notwithstanding the sharp lesson of the past few years, returning good times will be the signal for the sanguine to plunge again as others have plunged before them.

It is ft curious fact — and not by any means ft satisfactory one either— that just at the time that the visit of Mr Meadows and the report of Mr McCallum hare drawn special attention to the promising prospect which lies before the dairy indnstry m this colony, news of the closing of dairy factories comes to ns both from North and South. In the North Island the o.ther day one such factory was sold for about fifty p^r cent >of its cojt, and only (wo or three days

ago the Geraldine Dairy Factory Company decided to wind up voluntarily. According to one of the speakers at the meeting (Mr Slack) there were two reasons for the non success of the Company. These were, first, that it had commenced operations with insufficient capital, and second, and chiefly, because the farmers had held aloof instead of supporting it. It was stated that the cheese which had been turned otU at Geraldine was some of the best made m the colony, and it is, therefore, all the greater pity that the Company should ihave been unable to carry on. Probably, however, the result may be that the works will be purchased by private parties m whose hands they may yet be made a success. It is not infrequently the case that those who first establish an industry have to bear the loss, and those who succeed them reap the profit. The Maori footballers have begun well at Home by winning their first match, defeating a strong team of the County of Surrey by a goal and a try to a try only scored by the Englishmen. They are likely indeed, we think, to have a good record throughout their campaign, and their career will be watched with great interest. While on the subject of football we may remark that it is a great pity that it is so often, as played m this colony, an exhibition of rough recklessnessness, bordering on brutality. Surely there is no necessity for such a state of things as is recorded by our Rangitikei contemporary (the "Advocate "), m whose columns we find the following :— " 'Xhe match at Marton on Saturday afforded most potent evidence of the perils of football. Four of the best members of the Marton team were rendered hors cle combat by a man who had never played football. The injuries inflicted, happily, were not serious, but that was a mere chance, for at least one of them might easily have proved fatal. In the Taranaki district the other day a schoolmaster had his spine dangerously hurt whilst playing football. In the Hawke's Bay district a player had his chest so seriously damaged that he had to be removed to the hospital. This case brings to mind an accident which occurred m a football match at Marton some time ago. A strong young man got a kick m the chest which damaged one of his lungs, and he was m the doctor's hands for three or four months, narrowly escaping death. During the football season which is now closing, no less than two score of serious accidents have occurred, all of which might have been avoided had science and activity been the rule rather than barbarous, brute force." One Joseph A pplin, a resident of Carterton, was indicted the other day for a breach of the marriage laws by making a false declaration m order to obtain a certificate enabling him to marry Martha Applin, his deceased brother's wife. The evidence showed that the wife's husband died ten years ago, and since then she has been housekeeping for her former husband's brother. Early this year the latter tried to marry her, but his application was declined by two registrars. Finally, m May last he succeeded m Masterton by making a declaration that he knew of no impediment. No certificate of the woman's former marriage was forthcoming, and the defence relied on this and Deuteronomy, chap. 25, verse 5, for a dismissal. This defence did not avail him, ] however, and Applin was committed for~ ' trial. Whether or not he be convicted and punished for making a false declara- '. tion, there can be no doubt that the marriage is an invalid one, and that any i children of the marriage will be as illegitimate as if no ceremony whatever had been performed. But as the law permits of the marriage of a man with the sister of his deceased wife we quite fail to see why a woman should not be permitted to marry the brother of her deceased hußband. There is no blood relationship between the parties m either case, and there is no sentimental objection which can be urged m the one which I does not apply with equal force to the Other. The deceased wife's sister has been a most persistent young lady and has at last succeeded m getting her disabilities removed m almost every British dependency, and it is about time that the deceased husband's brother put m his claim to be heard,